Under the deal, Fox would keep Fox Sports, Fox News and Fox Television Stations and make them into a new company called „New Fox”.

Established media companies like Disney are looking for deals that would help them meet the challenge of fast-growing rivals including Netflix and Amazon.

Hong Kong-based hedge fund Case Equity Partners, which has a stake in Sky, said the fact Disney was in a slightly more favourable position for Fox’s US media assets meant that Comcast would fight even harder to win Sky.

„We see a final Sky deal outcome at well over £15 per share,” said managing partner Michael Wegener.